Boeing dips in pre-open on 2003 outlook

Dow industrials component Boeing
BA, -0.06%
is losing 61 cents to $30 in pre-open trading after the company indicated that 2003 earnings would fall short of current Wall Street forecasts and lowered its revenue outlook, as weakness in commercial aerospace markets and the "changing" pension outlook is expected to offset strength in its defense and non-commercial space businesses. The company is projecting earnings of $1.90 to $2.10 a share, below the average analyst estimate compiled by Thomson First Call of $2.20 a share. Boeing lowered its revenue outlook to approximately $49 billion from $50 billion. Separately, the company reported fourth quarter earnings that topped expectations.

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